Top global stories this week: Alibaba, Unitree Robotics among notable names

Michael Burry, the Scion Capital Management founder, recently sold his Alibaba shares, deeming the company's stock overpriced. Burry expressed his dissatisfaction with Alibaba's share price, stating that he believes it must drop by half before he would consider investing again. The Scion Capital founder recently disclosed he had built a new position in Alibaba, but now plans to move most of it back to JD.com Inc., a rival online retailer.

Burry criticized Alibaba's recent share sale, which aimed to raise a substantial amount for AI investments, calling it a "pricey" move. He further warned that he expects the company's return on invested capital to continue to decline. Alibaba's American Depositary Receipts have fallen 18.6% for the year, and its Hong Kong-listed shares have declined 13.9% so far this year.